Optimism In Feeder Cattle

This is Matt Rice with today’s Market Line Report for Monday. Feeder Cattle gained momentum before markets closed Last Thursday, finishing the week higher. Here’s Virginia McGathey with the CME Group to share more on the Feeder Market.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March. closed the day dn 23, to finish at 588 ¼. March. Corn dn 5, to close at 427 ¼. Kansas City Hard Red Winter Wheat prices for March. were dn 20 ¼, to settle at 550 ½.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-25 to 6-45. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 20 ¼, ranging from 6-90 ½ to 6-95 ½. Soft white wheat of Ordinary Protein for March ended the day Unch, ranging from 6-20 to 6-45. DNS wheat with 14 % protein, prices for March were dn 8 ¼, ranging from 6-76 ½ to 7-06 ½.

Live Cattle for Feb. were up $.22 ½, closing at 114.17 ½. Jan. Feeder cattle were up $1.57 ½, to finish the day at 140.17 ½. Dec. Class III milk was dn $.30, at 15.33.